This becomes the biggest move in the industry: Xiaomi has topped China’s charts of leading smartphone makers in terms of panel procurement for 2024. According to the latest report from CINNO Research, it will procure as many as 171 million panel units this year, up 21.7% YoY.
Global Smartphone Panel Market Exhibits Strong Recovery
Indeed, this would mean a robust recovery momentum for the global smartphone industry while the total panel shipment is supposed to go all the way up to reaching an all-time high with up to 2.27 billion units by the end of 2024, which itself represents an increase of 8.7% YoY in reality, depicting the robustness of this sector even while the world continuously struggles with unfavorable economic conditions around the globe.
Chinese Brands Dominate Market Share
Chinese smartphone brands are further strengthening their position in the global market, with a forecasted collective share of 57.8% in 2024, up 1.4 percentage points from the previous year. In terms of panel procurement, the top three Chinese brands – Xiaomi, OPPO, and vivo – are predicted to jointly occupy a combined market share of 34.0%.
Breakdown of Market Leaders
- Xiaomi’s Market Leadership
- Projected procurement: 171 million panels
- Year-over-year growth: 21.7%
- Position: First position in Chinese market
- Stable Performance of OPPO
- Anticipated purchase: 144 million panels
- Year-over-year growth: 3.5%
- Position: second place in the Chinese market
- Strong Presence of vivo
- Forecasted procurement: 98 million panels
- Year-over-year growth: 4.2%
- Position: third position in the Chinese market
Industry Implications
The significant increase in Xiaomi’s panel procurement volume suggests an optimistic outlook for the company’s production and sales in 2024. This is not only reflecting Xiaomi’s further expanding market share but also indicating high consumer demand.
Future Outlook
It’s expected that 1.21 billion panels will be purchased by all mainstream mobile phone brands globally in 2024, up 5.3% compared to last year, which shows that the industry is very promising. Xiaomi leads this growth, underlining the successful approach it has adopted to stay ahead of the fray in the various segments of the market and satisfy customer demand. *Source: CINNO Research, January 2024
A Xiaomi túl sok fajta telefont gyárt, ezért nincs ideje időben kiadni a frissítéseket 🙁 Példa : Poco F6 májusban jelent meg, Se Hyperos 2.0 sem Biztonsági frissítés, Január 10. -én még novembernél tart a telefon. SZÉGYEN